Connor Clark & Lunn Investment Management Ltd. Sells 43,897 Shares of Great Lakes Dredge & Dock Corporation $GLDD

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Great Lakes Dredge & Dock Corporation by 22.4% during Q1, now holding 152,502 shares valued at approximately $1.3 million.
• Institutional ownership of Great Lakes Dredge & Dock stands at 89.11%, with several firms buying shares and increasing their stakes recently.
• Analysts have upgraded the company's stock rating, with Zacks Research and Wall Street Zen both indicating a shift to "strong-buy" and "buy" ratings, respectively.

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD - Free Report) by 22.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 152,502 shares of the construction company's stock after selling 43,897 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.22% of Great Lakes Dredge & Dock worth $1,327,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Wittenberg Investment Management Inc. increased its position in shares of Great Lakes Dredge & Dock by 25.9% during the first quarter. Wittenberg Investment Management Inc. now owns 228,300 shares of the construction company's stock worth $1,986,000 after acquiring an additional 47,000 shares in the last quarter. CenterBook Partners LP lifted its position in Great Lakes Dredge & Dock by 169.2% in the 1st quarter. CenterBook Partners LP now owns 1,121,974 shares of the construction company's stock valued at $9,761,000 after acquiring an additional 705,159 shares in the last quarter. Vanguard Group Inc. boosted its stake in Great Lakes Dredge & Dock by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,907,174 shares of the construction company's stock worth $33,992,000 after purchasing an additional 29,586 shares during the period. Mirabaud & Cie SA bought a new position in Great Lakes Dredge & Dock during the 1st quarter worth about $209,000. Finally, Minerva Advisors LLC increased its holdings in Great Lakes Dredge & Dock by 3.6% during the 1st quarter. Minerva Advisors LLC now owns 1,389,807 shares of the construction company's stock worth $12,091,000 after purchasing an additional 48,000 shares in the last quarter. Institutional investors own 89.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on GLDD shares. Wall Street Zen upgraded Great Lakes Dredge & Dock from a "hold" rating to a "buy" rating in a report on Monday, May 19th. Zacks Research upgraded Great Lakes Dredge & Dock to a "strong-buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus target price of $14.00.

Insider Buying and Selling at Great Lakes Dredge & Dock

In related news, Director Ronald Steger sold 5,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $11.59, for a total transaction of $57,950.00. Following the transaction, the director directly owned 20,404 shares in the company, valued at approximately $236,482.36. The trade was a 19.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Great Lakes Dredge & Dock Stock Down 0.1%

GLDD traded down $0.0150 on Thursday, hitting $11.4350. 20,061 shares of the company were exchanged, compared to its average volume of 489,429. The stock's fifty day moving average is $11.50 and its 200-day moving average is $10.29. Great Lakes Dredge & Dock Corporation has a 12 month low of $7.51 and a 12 month high of $12.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.15. The company has a market cap of $777.58 million, a PE ratio of 10.88, a PEG ratio of 0.93 and a beta of 1.35.

Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The construction company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.06. The firm had revenue of $193.76 million during the quarter, compared to the consensus estimate of $177.70 million. Great Lakes Dredge & Dock had a return on equity of 15.61% and a net margin of 8.63%. Equities research analysts predict that Great Lakes Dredge & Dock Corporation will post 0.69 EPS for the current fiscal year.

Great Lakes Dredge & Dock Company Profile

Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.